North Caldwell Gears Up For $51M School Bond Referendum (VIDEO)

CALDWELLS, NJ — The reputation of North Caldwell’s public schools is an important reason that many new homeowners choose the borough as a place to live and raise their families. But the town has recently seen a big rise in student enrollment – and it’s time to pony up some tax dollars for some much-needed expansion, district administrators say.

On Sept. 26, local residents will head to the polls to vote on a bond referendum that would pay for new classrooms, security upgrades, and a host of other repairs to aging boilers, HVAC systems and roofs throughout the district. Proposed upgrades also include replacing the patchwork of window air conditioners in classrooms and minimal-output units in a few large spaces.

According to a frequently asked question guide from the North Caldwell Board of Education, the proposed improvements are estimated to cost $50.94 million. Local costs would be offset by just over $10 million in state aid. The district would contribute $5 million from its capital reserve, funds that are set aside in anticipation of capital improvements.

Some of the staffing expenses associated with the expansion could be absorbed into the existing operating budget, administrators added.

The property tax impact is based on the average assessed home value in North Caldwell ($790,000). That is estimated to average $895 per year for the 30-year life of the bond.

• See Related: Highest NJ Property Taxes (See Where Your Town Ranks On New List)

School officials held three meetings last year to discuss plans with the public, saying they're educating 710 students in buildings meant for 585. Read More: North Caldwell Takes Another Step Toward School Facilities Expansion

“The number of students currently exceeds the capacity in both Gould and Grandview Schools,” officials say.

District administrators and staff made another plea for funds in a video released in August (article continues below).

The Board of Education will host a webinar-style forum about the referendum at 7:30 p.m. on Tuesday, Sept. 12.

The forum will include a chance for the public to ask questions. To ask a question, send it to [email protected] in advance or during the forum.

What is a bond referendum? According to district administrators:

“With this kind of vote (referendum), the school district seeks permission to borrow money (through the sale of bonds) to finance large-scale projects. Funding projects through a bond referendum offers the advantage of more than $10 million in state aid that North Caldwell could not get through its regular property tax. Bond funding is an efficient use of borrowing capacity. This up-front funding can be used to meet our district’s growing need for space, upgrade safety and security, complete infrastructure maintenance, and protect against financial inefficiencies. It is a cornerstone of the Board of Education’s long-term strategic planning for new space ready to meet North Caldwell's needs by fall of 2026.”

The North Caldwell Public School District serves students in pre-kindergarten through sixth grade. North Caldwell is also part of the West Essex Regional School District, which serves grades seven to 12.

GREEN BROOK COUNTRY CLUB

School administrators said the upcoming development plans at the Green Brook Country Club – where a 100-year-old golf course is about to be turned into a housing complex – is another reason to start thinking about the future.

“We have been meeting with the town planning board and other borough officials to remain informed of the potential impact that the Green Brook Country Club development could have on our schools,” administrators reported.

“As we continue to monitor that plan, we know that enrollment has already risen, regardless of Green Brook,” school officials continued. “An independent demographic study has projected that enrollment will continue to rise, even without development at Green Brook.”

District administrators added:

“Potential enrollment from the Green Brook development plan cannot yet be factored into the state’s allocation of aid; it’s too far into the future for that. However, the demographer has expressed his knowledgeable opinion about how enrollment could rise, and that need is factored into the architect’s proposal. Our plans put North Caldwell Public School in position to continue serving students with the class sizes our community expects within an enrollment boost that has already happened and within the anticipated increase due to the Green Brook development project.”

According to North Caldwell Mayor Joshua Raymond, a revised agreement has been hammered out that will “drastically limit” the impact of the new development, which will mostly be open to people over the age of 55 and up.

• See Related: North Caldwell Golf Course Will Be Turned Into Housing (See New Plan)

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